AQR Capital Management LLC Trims Holdings in DocuSign, Inc. (NASDAQ:DOCU)

AQR Capital Management LLC decreased its holdings in shares of DocuSign, Inc. (NASDAQ:DOCU) by 5.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,653,518 shares of the company’s stock after selling 199,564 shares during the period. AQR Capital Management LLC owned 1.78% of DocuSign worth $193,856,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DOCU. Massmutual Trust Co. FSB ADV raised its holdings in shares of DocuSign by 5,000.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 510 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares in the last quarter. Mather Group LLC. raised its holdings in DocuSign by 4,338.5% in the 2nd quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after purchasing an additional 564 shares in the last quarter. Register Financial Advisors LLC bought a new position in DocuSign in the 1st quarter worth $37,000. ICA Group Wealth Management LLC purchased a new stake in shares of DocuSign in the 4th quarter worth about $39,000. Finally, nVerses Capital LLC bought a new stake in shares of DocuSign during the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Performance

Shares of DOCU stock opened at $60.55 on Thursday. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 116.44, a price-to-earnings-growth ratio of 6.37 and a beta of 0.93. DocuSign, Inc. has a one year low of $38.11 and a one year high of $64.76. The company’s 50-day moving average is $56.03 and its 200 day moving average is $56.31.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm had revenue of $736.03 million for the quarter, compared to analysts’ expectations of $727.20 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, research analysts predict that DocuSign, Inc. will post 0.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on DOCU shares. Citigroup raised their price objective on shares of DocuSign from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a research note on Friday, September 6th. JMP Securities reissued a “market outperform” rating and set a $84.00 price objective on shares of DocuSign in a research report on Thursday, September 5th. Royal Bank of Canada boosted their target price on shares of DocuSign from $52.00 to $57.00 and gave the company a “sector perform” rating in a report on Friday, September 6th. Finally, Robert W. Baird increased their price target on shares of DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.45.

Insider Buying and Selling

In other news, Director Daniel D. Springer sold 287,052 shares of DocuSign stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $53.78, for a total value of $15,437,656.56. Following the completion of the sale, the director now directly owns 923,445 shares in the company, valued at $49,662,872.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Daniel D. Springer sold 287,052 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $53.78, for a total transaction of $15,437,656.56. Following the transaction, the director now directly owns 923,445 shares of the company’s stock, valued at approximately $49,662,872.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel D. Springer sold 70,983 shares of DocuSign stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.84, for a total value of $3,537,792.72. Following the completion of the sale, the director now directly owns 891,373 shares of the company’s stock, valued at approximately $44,426,030.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 446,065 shares of company stock worth $23,777,163. 1.66% of the stock is owned by corporate insiders.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.